Transaction Burning Function announcement to foster the deflationary ecosystem for BSC Station
Dear BSCS holders,
Since June, 2021, BSCStation have activated the “Transaction Burning” Function to foster the deflationary ecosystem. For each transaction, 1% of the transaction amount will be distributed to BSCS Stakers, and the other 2% will be burned. For example last month, there were 11million BSCS token in transactions, and it means 220k BSCS will be burned only for the transactions, and 110k BSCS will be shared to BSCS Stakers. Therefore, for each year, there could be 2.64 million BSCS tokens burned during the transactions, and 1.32million BSCS tokens will be shared to all BSCS Stakers.
We understand the “burning” really matters for the substantial development of BSC Station. Having burns controlled by the team and promoted based on achievements helps to keep the community rewarded and informed. The conditions of the burn and the amounts can be advertised and tracked. Thus, We aim to implement a burn strategy that is beneficial and rewarding for those engaged for the long term. Furthermore, the total number of BSCS token burned is featured on our panel located on the website which allows for further transparency in identifying the current circulating supply at any given point of time.
What else BSCS burning do we have?
BSC Station will burn all the BSCS earned from the BSCS Genesis NFT sale campaigns. Therefore, the support of the holders is also very important to promote the burning process of BSCS.
We have received around 300,000 BSCS tokens revenue from Genesis NFT Sales Day 1 (Mato’s powers NFT series) and NFT fee. We sincerely thank you for your support, all these tokens will be burned. If you are not on the whitelist or have not purchased Mato’s Power NFT, there are still 4 more Genesis NFT sales ahead. With the goal of 1.25 million BSCS tokens for this round Genesis NFT sales will be burned.
Not stopping there, we will constantly try to create more playgrounds for you. In future, we will release more NFT games, such as Lottery, Blind box, Unicorn eggs.,etc and of course, all earned BSCS tokens will be burned accordingly.
Also, for BSCS Swap, a portion of the trading fees will be burned quarterly, it will be announced later. After we start LP staking, more users will add liquidity for BSCS Swap, and we will launch a “trading mining” campaign to boost the trading volume so that we can burn more BSCS.
* Note: NFT minting fee accumulated will be used to buy back BSCS and burn monthly as well.
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